|June 05, 2012|
Annual Meeting Results and Warrant Update
TORONTO, June 5, 2012 /CNW/ - Treasury Metals Incorporated ("Treasury Metals" or the "Company") is pleased to announce the re-election of the Board of Directors at its Annual and Special Meeting of Shareholders (the "Meeting") held on May 30, 2012.Â At the Meeting, shareholders approved a Board of six Directors, the re-appointment of Collins Barrow LLP as auditors and the renewal of the amended and restated stock option plan. Meeting results will be made available on Sedar (www.sedar.com).
Shareholders approved the re-appointment of Marc Henderson (Chairman), Martin Walter (President and CEO), Douglas Bache, Harry Burgess, William Fisher and Blaise Yerly as Directors of the Company. Directors were approved on an individual basis.
Peter Walker retired from the Board of Directors and therefore did not stand for re-election at the Meeting. Mr. Walker, formerly Chairman, President and CEO of Corona Gold Corp. (former operator of the Goliath Gold Project), has been involved with Treasury Metals since February 2008 as a Director. The Company thanks Mr. Walker for his contributions and dedicated years of service.
A copy of the corporate presentation made at the Meeting dated June 2012 has been made available on the Company's website.
In addition, as of June 2, 2012, the Company's December 2010 warrants with an exercise price of $0.70 and $1.00 (flow-through units) have expired. Proceeds received from these warrant exercises, since the March 31, 2012 interim financial statements were reported, totaled $386,063. As a result of the warrant expiry, the Company now has no outstanding warrants and there are 53.6 million issued and outstanding common shares.
In addition to these funds, the Company received payment totaling $237,917 for the three-month period ending March 31, 2012 in royalty income from the Cerro Colorado gold mine located in Mexico. The Company will continue to receive similar payments paid on a monthly basis for the life of the mine. The Cerro Colorado gold mine is operated by GoldGroup Mining Inc. and has been in operation for approximately eight years.
This release includes certain statements that may be deemed to be "forward-looking statements".Â All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements.Â Treasury Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
View News Release in PDF format:
You can return to the main Press Releases page, or press the Back button on your browser.